A recent price study found that Walmart's online prices were just 0.3% higher than Amazon's, down from a 3% premium last year.

Walmart is leveraging its physical stores to give shoppers more ways to save.

Amazon appears to be losing its edge in the low-price wars online.

A new price study by Market Track spanning 700 days found that Walmart's prices online were 0.3% higher than Amazon's on average, Reuters reported. That's down from a 3% premium last year.

In some categories, Walmart's prices were significantly lower than Amazon's, the study found — wearables like fitness trackers and smartwatches were 6.4% cheaper at Walmart than on Amazon this year.

Walmart has spent more than $1 billion slashing prices last year to better compete with Amazon, which is responsible for nearly half of e-commerce sales in the US. Walmart, by comparison, generates 3.6% of all US online sales.